iso4217:USDpure00000884982012-10-032012-10-030000088498ck0000088498:S000034633Memberck0000088498:C000106630Member2012-10-032012-10-030000088498ck0000088498:S000034633Memberck0000088498:C000106629Member2012-10-032012-10-030000088498ck0000088498:S000034633Memberck0000088498:C000106628Member2012-10-032012-10-030000088498ck0000088498:P0001-S000034633Memberck0000088498:S000034633Member2012-10-032012-10-030000088498ck0000088498:S000034632Memberck0000088498:C000106627Member2012-10-032012-10-030000088498ck0000088498:S000034632Memberck0000088498:C000106626Member2012-10-032012-10-030000088498ck0000088498:S000034632Memberck0000088498:C000106625Member2012-10-032012-10-030000088498ck0000088498:P0001-S000034632Memberck0000088498:S000034632Member2012-10-032012-10-030000088498ck0000088498:S000034631Memberck0000088498:C000106624Member2012-10-032012-10-030000088498ck0000088498:S000034631Memberck0000088498:C000106623Member2012-10-032012-10-030000088498ck0000088498:S000034631Memberck0000088498:C000106622Member2012-10-032012-10-030000088498ck0000088498:P0001-S000034631Memberck0000088498:S000034631Member2012-10-032012-10-03Other2012-10-03SECURITY INCOME FUND /KS/0000088498false2012-10-032012-10-032012-03-01Total Return Bond Fund<p class="MsoNormal" align="center" style="font-size:11.0pt;font-family:'calibri','sans-serif';margin-top:9.0pt;margin-right:0in; margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt;text-align:center; line-height:normal;text-autospace:none"><b><font style='font-size:10.0pt; font-family:"Times New Roman","serif"'>Supplement Dated October&nbsp;3, 2012</font></b></p> <p class="MsoNormal" align="center" style="margin-top:0in;margin-right:0in;margin-left:0in;font-size:11.0pt;font-family:'calibri','sans-serif';margin-bottom:0in;margin-bottom:.0001pt; text-align:center;line-height:normal;text-autospace:none"><b><font style='font-size:10.0pt;font-family:"Times New Roman","serif"'>to the Prospectus and Statement of Additional Information (“SAI”) Dated March&nbsp;1, 2012</font></b></p> <p class="MsoNormal" style="font-size:11.0pt;font-family:'calibri','sans-serif';margin-top:9.0pt;margin-right:0in;margin-bottom:0in; margin-left:0in;margin-bottom:.0001pt;line-height:normal;text-autospace:none"><b><font style='font-size:10.0pt;font-family:"Times New Roman","serif"'>This supplement provides new and additional information beyond that contained in the currently effective Prospectus and SAI for Total Return Bond Fund, Macro Opportunities Fund and Floating Rate Strategies Fund (each, a “Fund” and together, the “Funds”):</font></b></p> <p class="MsoNormal" style="font-size:11.0pt;font-family:'calibri','sans-serif';margin-top:9.0pt;margin-right:0in;margin-bottom:0in; margin-left:0in;margin-bottom:.0001pt;line-height:normal;text-autospace:none"><font style='font-size:10.0pt;font-family:"Times New Roman","serif"'>Effective immediately, the following changes are made to the Funds’ Prospectus and SAI.</font></p> <p class="MsoNormal" style="font-size:11.0pt;font-family:'calibri','sans-serif';margin-top:4.5pt;margin-right:0in;margin-bottom:0in; margin-left:0in;margin-bottom:.0001pt;line-height:normal;text-autospace:none"><b><u><font style='font-size:10.0pt;font-family:"Times New Roman","serif"'>Prospectus</font></u></b></p> <p class="MsoNormal" style="margin-top:0in;margin-right:0in;margin-left:0in;margin-bottom:10.0pt;line-height:115%;font-size:11.0pt;font-family:'calibri','sans-serif';"><b><font style='font-size:10.0pt;line-height:115%; font-family:"Times New Roman","serif"'>The “Annual Fund Operating Expenses” table and the “Example” section for the Total Return Bond Fund on page 1 of the Prospectus are replaced to read as follows:</font></b></p>March&nbsp;1, 2013Other expenses are based on estimated amounts for the current fiscal year.Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)Example<p class="MsoNormal" style="font-size:11.0pt;font-family:'calibri','sans-serif';margin-top:4.5pt;margin-right:0in;margin-bottom:0in; margin-left:0in;margin-bottom:.0001pt;line-height:normal;text-autospace:none"><font style='font-size:10.0pt;font-family:"Times New Roman","serif"'>This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</font></p> <p class="MsoNormal" style="margin-top:0in;margin-right:0in;margin-left:0in;margin-bottom:10.0pt;line-height:115%;font-size:11.0pt;font-family:'calibri','sans-serif';"><font style='font-size:10.0pt;line-height:115%;font-family: "Times New Roman","serif"'>The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although the actual costs may be higher or lower, based on these assumptions your cost would be:</font></p><p class="MsoNormal" style="margin-top:0in;margin-right:0in;margin-left:0in;margin-bottom:10.0pt;line-height:115%;font-size:11.0pt;font-family:'calibri','sans-serif';"><b><font style='font-size:10.0pt;line-height:115%; font-family:"Times New Roman","serif"'>Please Retain This Supplement for Future Reference</font></b></p>GIBAXGIBCXGIBIX0.00500.00500.00500.00250.01000.00000.00760.00760.00560.00080.00080.00080.00680.00680.00480.01510.02260.0106-0.0055-0.0055-0.00480.00960.01710.0058<div> &lt;div style="display:none;" &gt;~ http://www.rydex-sgi.com/20121003/role/OperatingExpensesData_P0001-S000034631Member row primary compact * row dei_LegalEntityAxis compact ck0000088498_S000034631Member column rr_ProspectusShareClassAxis compact * column dei_LegalEntityAxis compact ck0000088498_S000034631Member ~&lt;/div&gt; </div>56887827465459289<div> &lt;div style="display:none;" &gt;~ http://www.rydex-sgi.com/20121003/role/ExpenseExample_P0001-S000034631Member row primary compact * row dei_LegalEntityAxis compact ck0000088498_S000034631Member column rr_ProspectusShareClassAxis compact * column dei_LegalEntityAxis compact ck0000088498_S000034631Member ~&lt;/div&gt; </div>56887817465459289<div> &lt;div style="display:none;" &gt;~ http://www.rydex-sgi.com/20121003/role/ExpenseExampleNoRedemption_P0001-S000034631Member row primary compact * row dei_LegalEntityAxis compact ck0000088498_S000034631Member column rr_ProspectusShareClassAxis compact * column dei_LegalEntityAxis compact ck0000088498_S000034631Member ~&lt;/div&gt; </div>Macro Opportunities Fund<p class="MsoNormal" align="center" style="font-size:11.0pt;font-family:'calibri','sans-serif';margin-top:9.0pt;margin-right:0in; margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt;text-align:center; line-height:normal;text-autospace:none"><b><font style='font-size:10.0pt; font-family:"Times New Roman","serif"'>Supplement Dated October&nbsp;3, 2012</font></b></p> <p class="MsoNormal" align="center" style="margin-top:0in;margin-right:0in;margin-left:0in;font-size:11.0pt;font-family:'calibri','sans-serif';margin-bottom:0in;margin-bottom:.0001pt; text-align:center;line-height:normal;text-autospace:none"><b><font style='font-size:10.0pt;font-family:"Times New Roman","serif"'>to the Prospectus and Statement of Additional Information (“SAI”) Dated March&nbsp;1, 2012</font></b></p> <p class="MsoNormal" style="font-size:11.0pt;font-family:'calibri','sans-serif';margin-top:9.0pt;margin-right:0in;margin-bottom:0in; margin-left:0in;margin-bottom:.0001pt;line-height:normal;text-autospace:none"><b><font style='font-size:10.0pt;font-family:"Times New Roman","serif"'>This supplement provides new and additional information beyond that contained in the currently effective Prospectus and SAI for Total Return Bond Fund, Macro Opportunities Fund and Floating Rate Strategies Fund (each, a “Fund” and together, the “Funds”):</font></b></p> <p class="MsoNormal" style="font-size:11.0pt;font-family:'calibri','sans-serif';margin-top:9.0pt;margin-right:0in;margin-bottom:0in; margin-left:0in;margin-bottom:.0001pt;line-height:normal;text-autospace:none"><font style='font-size:10.0pt;font-family:"Times New Roman","serif"'>Effective immediately, the following changes are made to the Funds’ Prospectus and SAI.</font></p> <p class="MsoNormal" style="margin-top:0in;margin-right:0in;margin-left:0in;margin-bottom:10.0pt;line-height:115%;font-size:11.0pt;font-family:'calibri','sans-serif';"><b><u><font style='font-size:10.0pt;line-height:115%; font-family:"Times New Roman","serif"'>Prospectus</font></u></b><b><font style='font-size:10.0pt;line-height:115%;font-family:"Times New Roman","serif"'> The “Annual Fund Operating Expenses” table and the “Example” section for the Macro Opportunities Fund on page 6 of the Prospectus are replaced to read as follows:</font></b></p>March&nbsp;1, 2013Other expenses are based on estimated amounts for the current fiscal year. &nbsp;Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)Example<p class="MsoNormal" style="font-size:11.0pt;font-family:'calibri','sans-serif';margin-top:4.5pt;margin-right:0in;margin-bottom:0in; margin-left:0in;margin-bottom:.0001pt;line-height:normal;text-autospace:none"><font style='font-size:10.0pt;font-family:"Times New Roman","serif"'>This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</font></p> <p class="MsoNormal" style="margin-top:0in;margin-right:0in;margin-left:0in;margin-bottom:10.0pt;line-height:115%;font-size:11.0pt;font-family:'calibri','sans-serif';"><font style='font-size:10.0pt;line-height:115%;font-family: "Times New Roman","serif"'>The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although the actual costs may be higher or lower, based on these assumptions your cost would be:</font></p><p class="MsoNormal" align="center" style="font-size:11.0pt;font-family:'calibri','sans-serif';margin-top:9.0pt;margin-right:0in; margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt;text-align:center; line-height:normal;text-autospace:none"><b><font style='font-size:10.0pt; font-family:"Times New Roman","serif"'>Please Retain This Supplement for Future Reference</font></b></p> <p class="MsoNormal" style="margin-top:0in;margin-right:0in;margin-left:0in;margin-bottom:10.0pt;line-height:115%;font-size:11.0pt;font-family:'calibri','sans-serif';">&nbsp;</p>GIOAXGIOCXGIOIX0.00890.00890.00890.00250.01000.00000.00820.00820.00620.00140.00140.00140.00680.00680.00480.01960.02710.0151-0.0046-0.0046-0.00420.01500.02250.0109<div> &lt;div style="display:none;" &gt;~ http://www.rydex-sgi.com/20121003/role/OperatingExpensesData_P0001-S000034632Member row primary compact * row dei_LegalEntityAxis compact ck0000088498_S000034632Member column rr_ProspectusShareClassAxis compact * column dei_LegalEntityAxis compact ck0000088498_S000034632Member ~&lt;/div&gt; </div>6201019328798111436<div> &lt;div style="display:none;" &gt;~ http://www.rydex-sgi.com/20121003/role/ExpenseExample_P0001-S000034632Member row primary compact * row dei_LegalEntityAxis compact ck0000088498_S000034632Member column rr_ProspectusShareClassAxis compact * column dei_LegalEntityAxis compact ck0000088498_S000034632Member ~&lt;/div&gt; </div>6201019228798111436<div> &lt;div style="display:none;" &gt;~ http://www.rydex-sgi.com/20121003/role/ExpenseExampleNoRedemption_P0001-S000034632Member row primary compact * row dei_LegalEntityAxis compact ck0000088498_S000034632Member column rr_ProspectusShareClassAxis compact * column dei_LegalEntityAxis compact ck0000088498_S000034632Member ~&lt;/div&gt; </div>Floating Rate Strategies Fund<p class="MsoNormal" align="center" style="font-size:11.0pt;font-family:'calibri','sans-serif';margin-top:9.0pt;margin-right:0in; margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt;text-align:center; line-height:normal;text-autospace:none"><b><font style='font-size:10.0pt; font-family:"Times New Roman","serif"'>Supplement Dated October&nbsp;3, 2012</font></b></p> <p class="MsoNormal" align="center" style="margin-top:0in;margin-right:0in;margin-left:0in;font-size:11.0pt;font-family:'calibri','sans-serif';margin-bottom:0in;margin-bottom:.0001pt; text-align:center;line-height:normal;text-autospace:none"><b><font style='font-size:10.0pt;font-family:"Times New Roman","serif"'>to the Prospectus and Statement of Additional Information (“SAI”) Dated March&nbsp;1, 2012</font></b></p> <p class="MsoNormal" style="font-size:11.0pt;font-family:'calibri','sans-serif';margin-top:9.0pt;margin-right:0in;margin-bottom:0in; margin-left:0in;margin-bottom:.0001pt;line-height:normal;text-autospace:none"><b><font style='font-size:10.0pt;font-family:"Times New Roman","serif"'>This supplement provides new and additional information beyond that contained in the currently effective Prospectus and SAI for Total Return Bond Fund, Macro Opportunities Fund and Floating Rate Strategies Fund (each, a “Fund” and together, the “Funds”):</font></b></p> <p class="MsoNormal" style="font-size:11.0pt;font-family:'calibri','sans-serif';margin-top:9.0pt;margin-right:0in;margin-bottom:0in; margin-left:0in;margin-bottom:.0001pt;line-height:normal;text-autospace:none"><font style='font-size:10.0pt;font-family:"Times New Roman","serif"'>Effective immediately, the following changes are made to the Funds’ Prospectus and SAI.</font></p> <p class="MsoNormal" style="font-size:11.0pt;font-family:'calibri','sans-serif';margin-top:4.5pt;margin-right:0in;margin-bottom:0in; margin-left:0in;margin-bottom:.0001pt;line-height:normal;text-autospace:none"><b><u><font style='font-size:10.0pt;font-family:"Times New Roman","serif"'>Prospectus</font></u></b></p> <p class="MsoNormal" style="margin-top:0in;margin-right:0in;margin-left:0in;margin-bottom:10.0pt;line-height:115%;font-size:11.0pt;font-family:'calibri','sans-serif';"><b><font style='font-size:10.0pt;line-height:115%; font-family:"Times New Roman","serif"'>The “Annual Fund Operating Expenses” table and the “Example” section for the Floating Rate Strategies Fund on page 11 of the Prospectus are replaced to read as follows:</font></b></p>March&nbsp;1, 2013Other expenses are based on estimated amounts for the current fiscal year.Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)Example<p class="MsoNormal" style="font-size:11.0pt;font-family:'calibri','sans-serif';margin-top:4.5pt;margin-right:0in;margin-bottom:0in; margin-left:0in;margin-bottom:.0001pt;line-height:normal;text-autospace:none"><font style='font-size:10.0pt;font-family:"Times New Roman","serif"'>This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</font></p> <p class="MsoNormal" style="margin-top:0in;margin-right:0in;margin-left:0in;margin-bottom:10.0pt;line-height:115%;font-size:11.0pt;font-family:'calibri','sans-serif';"><font style='font-size:10.0pt;line-height:115%;font-family: "Times New Roman","serif"'>The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although the actual costs may be higher or lower, based on these assumptions your cost would be:</font></p><p class="MsoNormal" align="center" style="font-size:11.0pt;font-family:'calibri','sans-serif';margin-top:9.0pt;margin-right:0in; margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt;text-align:center; line-height:normal;text-autospace:none"><b><font style='font-size:10.0pt; font-family:"Times New Roman","serif"'>Please Retain This Supplement for Future Reference</font></b></p> <p class="MsoNormal" style="margin-top:0in;margin-right:0in;margin-left:0in;font-size:11.0pt;font-family:'calibri','sans-serif';margin-bottom:0in;margin-bottom:.0001pt;line-height: normal;text-autospace:none"><font style='font-size:9.0pt;font-family:"Times New Roman","serif"'>&nbsp;</font></p> <p class="MsoNormal" style="margin-top:0in;margin-right:0in;margin-left:0in;margin-bottom:10.0pt;line-height:115%;font-size:11.0pt;font-family:'calibri','sans-serif';"><font style='font-size:9.0pt;line-height:115%;font-family: "Times New Roman","serif"'>&nbsp;</font></p>GIFAXGIFCXGIFIX0.00650.00650.00650.00250.01000.00000.00730.00730.00530.00080.00080.00080.00650.00650.00450.01630.02380.0118-0.0053-0.0053-0.00320.01100.01850.0086<div> &lt;div style="display:none;" &gt;~ http://www.rydex-sgi.com/20121003/role/OperatingExpensesData_P0001-S000034633Member row primary compact * row dei_LegalEntityAxis compact ck0000088498_S000034633Member column rr_ProspectusShareClassAxis compact * column dei_LegalEntityAxis compact ck0000088498_S000034633Member ~&lt;/div&gt; </div>58291528869288343<div> &lt;div style="display:none;" &gt;~ http://www.rydex-sgi.com/20121003/role/ExpenseExample_P0001-S000034633Member row primary compact * row dei_LegalEntityAxis compact ck0000088498_S000034633Member column rr_ProspectusShareClassAxis compact * column dei_LegalEntityAxis compact ck0000088498_S000034633Member ~&lt;/div&gt; </div>58291518869288343<div> &lt;div style="display:none;" &gt;~ http://www.rydex-sgi.com/20121003/role/ExpenseExampleNoRedemption_P0001-S000034633Member row primary compact * row dei_LegalEntityAxis compact ck0000088498_S000034633Member column rr_ProspectusShareClassAxis compact * column dei_LegalEntityAxis compact ck0000088498_S000034633Member ~&lt;/div&gt; </div>Other expenses are based on estimated amounts for the current fiscal year.The Investment Manager has contractually agreed through March 1, 2013 to waive fees and/or reimburse expenses to the extent necessary to limit the ordinary operating expenses (including distribution (12b-1) fees, but exclusive of brokerage costs, dividends on securities sold short, acquired fund fees and expenses, interest, taxes, litigation, indemnification, and extraordinary expenses) (“Operating Expenses”) of the Fund to the annual percentage of average daily net assets for each class of shares as follows: Class A – 0.88%, Class C – 1.63% and Institutional Class – 0.50%. The Fund may have “Total annual fund operating expenses after fee waiver” greater than the expense cap as a result of any acquired fund fees and expenses or other expenses that are excluded from the calculation. The Investment Manager is entitled to reimbursement by the Fund of fees waived or expenses reimbursed during any of the previous 36 months beginning on the date of the expense limitation agreement. The agreement will expire when it reaches its termination or when the investment adviser ceases to serve as such (subject to recoupment rights) and it can be terminated by the Fund’s Board of Directors, subject to the recoupment rights of the Investment Manager.The Investment Manager has contractually agreed through March 1, 2013 to waive fees to the extent necessary to limit the ordinary operating expenses (including distribution (12b-1) fees, but exclusive of brokerage costs, dividends on securities sold short, acquired fund fees and expenses, interest, taxes, litigation, indemnification, and extraordinary expenses) (“Operating Expenses”) of the Fund to the annual percentage of average daily net assets for each class of shares as follows: Class A – 1.36%, Class C – 2.11% and Institutional Class – 0.95%. The Fund may have “Total annual fund operating expenses after fee waiver” greater than the expense cap as a result of any acquired fund fees and expenses or other expenses that are excluded from the calculation. The Investment Manager is entitled to reimbursement by the Fund of fees waived during any of the previous 36 months beginning on the date of the expense limitation agreement. The agreement will expire when it reaches its termination or when the investment adviser ceases to serve as such (subject to recoupment rights) and it can be terminated by the Fund’s Board of Directors, subject to the recoupment rights of the Investment Manager.The Investment Manager has contractually agreed through March 1, 2013 to waive fees to the extent necessary to limit the ordinary operating expenses (including distribution (12b-1) fees, but exclusive of brokerage costs, dividends on securities sold short, acquired fund fees and expenses, interest, taxes, litigation, indemnification, and extraordinary expenses) (“Operating Expenses”) of the Fund to the annual percentage of average daily net assets for each class of shares as follows: Class A – 1.02%, Class C – 1.77% and Institutional Class – 0.78%. The Fund may have “Total annual fund operating expenses after fee waiver” greater than the expense cap as a result of any acquired fund fees and expenses or other expenses that are excluded from the calculation. The Investment Manager is entitled to reimbursement by the Fund of fees waived during any of the previous 36 months beginning on the date of the expense limitation agreement. The agreement will expire when it reaches its termination or when the investment adviser ceases to serve as such (subject to recoupment rights) and it can be terminated by the Fund’s Board of Directors, subject to the recoupment rights of the Investment Manager.